Archive for the ‘Network’ Category

When I started my career as free lancer in November 2007, the economy was still on the top. In such context, I was advised by a partner to start now, as the interim management market had a lot of potential.

I remember to get my first assignment after 2 weeks, and I had only two days of unemployment between each of next assignments. In 2008, a lecturer invited to an event organized by a partner told us “It is good for you to get assignments in quick succession, but I know interim managers who stay at home during few months without work!” Of course, I was a bit surprised to hear that, but on the other hand, I had in mind that an entrepreneur should know that difficult times could succeed to successful times, and has to be prepared to such situations. To manage is to foresee, isn’t it?

By discussing with other interim managers, they told me also to be workless during few months during economical crisis times. We emphasized the importance to maintain a network, to keep partners updated about your last assignments and the new acquired expertise, giving them information in order to maximize the chance to get opportunities. It was obvious for me that business will not be always on the top; nevertheless, I kept these advices and comments in mind.

In the middle of the year 2008, the financial crisis started, and with such scale, it was obvious that such crisis will have a negative impact on the economy. After few weeks, the customer I was working for, presented decreasing sales figures, and the financial results were in red. They were unable to make any forecast for the next months, as such situation never happened before.

By noticing this, I remembered what was said by my colleagues and partners. When I started my own company, the first step was to increase significantly the equity in order to finance future investment or to keep margin during recession times. I could only notice that I was right to plan things in such a way.

By writing these lines, I wanted to underline the importance of network and the shared experience of your colleague and partners. If they mentioned negative experiences, do not underestimate then, but consider this as useful information you have to analyze, to take conclusions and to take appropriate actions.